Armor and Magic Resistance has generally been made more expensive by roughly 10 to 20%

Basic items have had their statistics and gold values adjusted to match.

Premiums for Tier 3 items

Gold premiums on Tier 3 items have generally been reduced across the board. This means that the deeper the build tree - generally the less statistics the item gives or the more expensive it will be compared to before.

Penetration Changes

% Penetration now applies before Flat Penetration. This means that combining the two statistics will amplify the effect of both - compared to live which reduced the effectiveness of both.

Last Whisper's Armor Penetration reduced to 35% from 40%

Void Staff's Magic Penetration reduced to 35% from 40%

Haunting Guise Magic Penetration reduced to 15 from 20

Sorcerer's Shoes Magic Penetration reduced to 15 from 20

Movement Speed

Movement Speed bonus on all Boot items has been reduced by 25

Base Movement Speed on all champions has been increased by 25

Items

Removed

The following items have been removed and items that build out of them have had their recipe changed:

Enchantment - Homeguard: Being at fountain instantly restores your health and mana. Additionally, you gain a very large movement speed boost that decays over 8 seconds. This passive is disabled if you are in combat.